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Map
$2,600,000
↓ $195K (7%)
●
Property -
For Sale
538 Rialto Ave
Venice, CA 90291
Studio
0 Bath
2768 Sqft
$12,767
Estimated Monthly
$0
HOA / Fees
About This Property
538 Rialto Avenue in Venice, California is comprised of three (3)
contiguous lots, totaling 7,652 square feet. The property consists
of eight (8) bungalow-style units around a shaded outdoor courtyard
with five (5) surface parking spaces.The asset offers a unit mix of
one (1) 2 BD/1.5 BA; two (2) 1 BD/ 1BA; and five (5) studios, most
with enclosed outdoor private spaces and one with a private
sauna.The property's location in prime Venice is just one block
from high-end shopping and dining amenities along Abbot Kinney
Boulevard and within walking distance to the Venice Canals, Venice
Beach and Boardwalk as well as vibrant boutiques and restaurants
along Main Street and Rose Avenue.Offered at only $325,000 per
unit, the asset provides a new investor with 50% rental upside -
10.9x gross and 6.2% cap rate at market rents. 538 Rialto
represents a value-add opportunity for investors in an A+ Venice
location.Investment Highlights Highly Desirable Venice Location One
Block to Abbot Kinney Blvd. Walking Distance to Venice Beach &
Canals 3 Contiguous Lots Form the Parcel, Totaling 7,652 SF
Renovated Units Include Recessed Lighting, Bamboo Flooring, Ceiling
Fans & Fully Upgraded Kitchens & Bathrooms Most Units Include
Enclosed Private Patios, One with Large Outside Enclosed Sauna 50%
Upside Potential in Rents.
The manager has listed the unit size as 2768 square feet.
The manager has listed the unit size as 2768 square feet.
Unit Size
2,768Ft²
Days on Market
300 days
Land Size
0.18 acres
Price per sqft
$939
Property Type
Property
Property Taxes
-
HOA Dues
-
Year Built
1922
Listed By
Last updated: 4 months ago (CLAWCA #286813)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jan 18, 2024 | Price Decreased |
$2,600,000
↓ $195K
(7%)
|
|
Price Decreased | |||
Aug 4, 2023 | Price Decreased |
$2,795,000
↓ $305K
(9.8%)
|
|
Price Decreased | |||
Jul 3, 2023 | Listed by Keller Williams Santa Monica | $3,100,000 | |
Listed by Keller Williams Santa Monica |
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
In Contract
Townhouse
3
Beds
3.5
Baths
2,620 ft²
$1,136/ft²
$2,975,000
May 19, 2023
-
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|